Bank of Communications Co (HK:3328) has released an update.
Bank of Communications Co., Ltd. has successfully issued a second tranche of Tier-2 capital bonds, raising RMB30 billion to bolster its Tier-2 capital and foster the steady growth of its business. This issuance follows the approval of a proposal at the 2022 annual general meeting to issue up to RMB100 billion in bonds by 2024. The newly raised funds will be directed towards enhancing the bank’s operational stability in compliance with regulatory authorities.
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